Ascending Triangle
This type of triangle chart pattern occurs when there is a resistance level and a slope of higher lows.
What happens during this time is that there is a certain level that the buyers cannot seem to exceed. However, they are gradually starting to push the price up as evident by the higher lows.It seems cadjpy is making a compression sell . its a good thing to wait until the price goes up around the supply area to enter short.
sell limit order around 87.652
Stop loss : 88.070
This type of triangle chart pattern occurs when there is a resistance level and a slope of higher lows.
What happens during this time is that there is a certain level that the buyers cannot seem to exceed. However, they are gradually starting to push the price up as evident by the higher lows.It seems cadjpy is making a compression sell . its a good thing to wait until the price goes up around the supply area to enter short.
sell limit order around 87.652
Stop loss : 88.070